Post
Topic
Board Speculation
Re: Bitcoin surge in the last 24hrs
by
JeffBrad12
on 18/07/2024, 06:16:20 UTC
I do not see how this is related to the price of Bitcoin increasing, the attack is supposed to make the price of Bitcoin to fall if the market was responding to the attack on the US presidential candidate and he has not won the presidential election yet so why will the price of Bitcoin rise because of this. Everybody is going to have something to say that it is what is causing the market to increase and my best theory is the fact that Germany has stop selling Bitcoin because they have sold everything they had, that is what the reports are saying and I believe many traders are seeing this news and getting happy to start buying Bitcoin again causing the price of Bitcoin to start recovering. There is also the theory that this rise is just the market recovering and has nothing to do with any news because after a dump, Bitcoin price use to bounce back before we can expect further rise or fall.
aside from Germany that stop selling BTC which causes the fear to subsides I think the news about trump does play role as you might know trump is about to attend the bitcoin conference and have a speak in there so maybe people are pretty bullish.

some people also said that BTC climbing because technical analysis and indicator says so but honestly its all speculation, nobody really know what was the couse of sudden reversal after such big dump.
but it's always good to know that bitcoin reached $65k breaking the resistance, probably could come back to $70k again eventually since right now bitcoin is pretty strong unwavered by the fuds of Mt gox dumping.